The impact of 2008 credit crisis on currency stability structure
The depreciation of many currencies over the world has retarded the economic development during 2008 credit crisis. The aim of this study is to detect the existence of changes in the currency stability structure by using a new covariance structure test known as S∗ statistics for high dimensional dat...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Inderscience Enterprises Ltd.
2018
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| Subjects: | |
| Online Access: | https://repo.uum.edu.my/id/eprint/24431/1/IJPQM%2023%20%201%202018%20%20128%20136.pdf |
| _version_ | 1825805106683052032 |
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| author | Sharif, Shamshuritawati Ismail, Suzilah Omar, Zurni |
| author_facet | Sharif, Shamshuritawati Ismail, Suzilah Omar, Zurni |
| author_sort | Sharif, Shamshuritawati |
| collection | UUM |
| description | The depreciation of many currencies over the world has retarded the economic development during 2008 credit crisis. The aim of this study is to detect the existence of changes in the currency stability structure by using a new covariance structure test known as S∗ statistics for high dimensional data involving 74 currencies. Comparisons were made between monthly data and overall data of 2008. Further analysis was conducted using network topology to visualise the pattern of structural changes and identifying which currencies affected by the crisis. The findings disclose that October currency structure has the utmost changes as compared to overall structure 2008. Forty one (or 55%) currencies were affected. The most affected currencies were Austrian schilling (ATS) and followed by Lebanese pound (LBP) and Mexican peso (MXN). These findings reflect the major impact of 2008 credit crisis on deterioration currencies performance. |
| first_indexed | 2024-07-04T06:26:27Z |
| format | Article |
| id | uum-24431 |
| institution | Universiti Utara Malaysia |
| language | English |
| last_indexed | 2024-07-04T06:26:27Z |
| publishDate | 2018 |
| publisher | Inderscience Enterprises Ltd. |
| record_format | eprints |
| spelling | uum-244312018-07-23T01:17:19Z https://repo.uum.edu.my/id/eprint/24431/ The impact of 2008 credit crisis on currency stability structure Sharif, Shamshuritawati Ismail, Suzilah Omar, Zurni QA75 Electronic computers. Computer science The depreciation of many currencies over the world has retarded the economic development during 2008 credit crisis. The aim of this study is to detect the existence of changes in the currency stability structure by using a new covariance structure test known as S∗ statistics for high dimensional data involving 74 currencies. Comparisons were made between monthly data and overall data of 2008. Further analysis was conducted using network topology to visualise the pattern of structural changes and identifying which currencies affected by the crisis. The findings disclose that October currency structure has the utmost changes as compared to overall structure 2008. Forty one (or 55%) currencies were affected. The most affected currencies were Austrian schilling (ATS) and followed by Lebanese pound (LBP) and Mexican peso (MXN). These findings reflect the major impact of 2008 credit crisis on deterioration currencies performance. Inderscience Enterprises Ltd. 2018 Article PeerReviewed application/pdf en https://repo.uum.edu.my/id/eprint/24431/1/IJPQM%2023%20%201%202018%20%20128%20136.pdf Sharif, Shamshuritawati and Ismail, Suzilah and Omar, Zurni (2018) The impact of 2008 credit crisis on currency stability structure. International Journal of Productivity and Quality Management, 23 (1). pp. 128-136. ISSN 1746-6474 http://doi.org/10.1504/IJPQM.2018.088619 doi:10.1504/IJPQM.2018.088619 doi:10.1504/IJPQM.2018.088619 |
| spellingShingle | QA75 Electronic computers. Computer science Sharif, Shamshuritawati Ismail, Suzilah Omar, Zurni The impact of 2008 credit crisis on currency stability structure |
| title | The impact of 2008 credit crisis on currency stability structure |
| title_full | The impact of 2008 credit crisis on currency stability structure |
| title_fullStr | The impact of 2008 credit crisis on currency stability structure |
| title_full_unstemmed | The impact of 2008 credit crisis on currency stability structure |
| title_short | The impact of 2008 credit crisis on currency stability structure |
| title_sort | impact of 2008 credit crisis on currency stability structure |
| topic | QA75 Electronic computers. Computer science |
| url | https://repo.uum.edu.my/id/eprint/24431/1/IJPQM%2023%20%201%202018%20%20128%20136.pdf |
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